DislikedThere is a small channel you can trade on EJ right now, but don't know how long it'll last.Ignored
Sonic
Day trading Vs Longer term holding FX 58 replies
Longer Term Trading 11 replies
Trading EUR/USD & Majors, Longer Term 205 replies
Automated longer term trading with MT4 8 replies
Short Term / Medium Term / Long Term? 3 replies
DislikedThere is a small channel you can trade on EJ right now, but don't know how long it'll last.Ignored
DislikedAre you talking about the red line above price action, and is it the 89sma?
Please clarify. I'd also like to know why you use an 89ma, and is it simple, exp, smoothed, etc? Can't read on the chart.
Thanks.Ignored
DislikedNotice how E/U is tied up around the 15 Min 89..... I stay out of crap like this.Ignored
DislikedHi Guys, I started this thread because I believe the wrong message is getting out in another thread. I understand that everyone has their own views and I respect that. But someone is going to get hurt. So I have created an alternative for more expierienced traders that we can control what is said and who stays and goes. And the young traders can learn from them. Just try to deal with traditional direction off the Daily and the 4 hr. Anyone is welcome, especially expierienced traders.
JimIgnored
DislikedMy first post here, basically a test, but the chart might give someone some food for thought. Trying to predict the nearest few days is just about impossible given the current political situation around the "bailout"..Ignored
DislikedMy first post here, basically a test, but the chart might give someone some food for thought. Trying to predict the nearest few days is just about impossible given the current political situation around the "bailout"..Ignored
DislikedAs it helps me in my own trading, I'm putting down the present situation as I see it.
On the Daily chart, price has just turned down from ~90 pips under the strong rally up to the 50% retracement of its big July to September fall.
Looking at the 4 hr chart and applying the fibonnaci retracements to this 987 pip rally we find that the 38% is at 1.4490 and the 61.8% is at 1.4260.
Normally, IF this last rally is to continue, we would expect price to retrace into the 490 to 260 zone and then continue north - OK, these time are NOT normal, but that effects my trading and not this analysis.
After falling during yesterdays US session to the low at #1, price bounced up to retrace 38% of that fall at #2 and turned south again with the wide range red candle at the London Open. There was a higher low at #3 (note that this was with higher volume in a spinning top) but this move didnt go far and turned back at the opening level line.
Now there is another bounce up from #5. IF this continues up and passes todays high at #2 it will be a bullish sign, as price hasnt been able to get down to its 38% fibo. Time Will Tell - I guess in todays US session or later over the weekend. assuming that the politicos can reach an agreement...Ignored